FORM Options History — September 2022

In September 2022, FORM traded between $25.40 and $28.90. ATM implied volatility averaged 48.1%, placing in the 23.4% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded above realized volatility by 10.9% (HV 20d: 37.2%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.81.

Notable Days

  • 2022-09-06: Highest Volume — 419 contracts
  • 2022-09-13: Largest IV spike — 166.8% change
  • 2022-09-13: Highest IV Rank — 100.0%
  • 2022-09-14: Largest Expected Move — 14.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.96$25.40$28.90$28.16$25.40
Max Pain$31.90$30.00$35.00$35.00$30.00
ATM IV48.1%37.3%117.7%40.4%44.5%
Expected Move12.9%11.0%14.3%11.6%12.8%
HV 20d37.2%27.4%46.1%46.1%27.4%
HV 60d55.6%49.5%59.9%59.9%49.5%
IV Rank23.4%11.9%100.0%15.6%19.1%
IV Percentile41.7%18.7%100.0%31.7%36.5%
Term Structure5.2%-1.4%8.4%3.7%8.1%
VWIV46.8%40.5%62.6%40.5%45.9%
Skew 25d4.5%0.3%7.6%7.6%0.3%
Skew 10d7.6%-0.7%16.1%9.2%7.7%
Call IV 25d44.1%39.6%48.3%40.6%48.3%
Put IV 25d48.6%46.0%51.1%48.2%48.6%
Bid-Ask Spread %63.8250.4184.2882.0461.41
Gamma HHI0.500.430.730.730.43
Net GEX-46.0K-51.1K-36.5K-36.5K-41.6K
Net DEX1.7M1.4M1.9M1.4M1.9M
Net VEX-4.9K-6.2K-3.4K-5.6K-3.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.004.824.820.53
Total Volume108.0480419326116
Total OI1,796.1431,5651,9271,5651,776

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-09-01$28.16$35.0040.4%11.6%46.1%15.6%40.5%7.6%3.7%-36.5K1.4M-5.6K4.8282.04N/AN/A56270636929
2022-09-02$27.70$30.0038.4%11.0%46.1%13.2%0.0%6.4%4.0%-43.6K1.6M-5.9K0.1784.28N/AN/A60106671,109
2022-09-06$27.58$35.0037.3%12.7%45.6%11.9%50.2%5.4%2.4%-40.0K1.6M-5.8K1.8565.53N/AN/A1472726741,099
2022-09-07$27.89$35.0045.8%13.0%42.0%22.0%47.0%4.5%2.4%-44.5K1.6M-6.2K1.3062.30N/AN/A1141486741,190
2022-09-08$27.85$35.0045.8%12.5%34.2%22.0%0.0%3.6%2.6%-49.3K1.6M-5.9K0.0065.55N/AN/A006731,191
2022-09-09$28.65$35.0037.9%11.7%36.9%12.6%49.2%5.5%4.4%-50.7K1.4M-6.2K0.0071.56N/AN/A2406731,191
2022-09-12$28.90$35.0044.1%11.7%36.1%20.0%41.8%6.0%4.2%-49.6K1.4M-6.1K0.0069.29N/AN/A1506821,189
2022-09-13$27.38$35.00117.7%14.0%39.2%100.0%48.6%3.9%1.1%-49.7K1.7M-5.5K1.3664.27N/AN/A1091486901,189
2022-09-14$27.11$35.0049.8%14.3%39.1%24.9%44.6%5.1%-1.4%-48.7K1.8M-5.2K0.0067.66N/AN/A6206901,184
2022-09-15$27.11$30.0046.5%13.3%39.3%21.2%47.7%3.7%7.7%-50.3K1.9M-5.0K0.0058.82N/AN/A047451,182
2022-09-16$26.80$30.0048.1%13.8%37.2%23.1%47.7%6.1%5.5%-45.6K1.8M-5.1K1.7954.42N/AN/A841507451,181
2022-09-19$27.23$30.0047.4%13.6%38.3%22.2%48.3%3.9%5.8%-51.1K1.6M-5.1K0.1850.41N/AN/A1126211,129
2022-09-20$26.94$30.0048.5%13.9%37.9%23.5%62.6%6.7%6.4%-47.8K1.6M-5.0K0.0054.57N/AN/A206301,131
2022-09-21$26.53$30.0045.7%13.1%37.8%20.3%41.9%4.3%6.8%-49.8K1.8M-4.5K0.9171.04N/AN/A11106321,131
2022-09-22$26.16$30.0044.5%12.7%37.5%19.0%43.6%5.0%6.9%-47.4K1.7M-4.3K0.3359.90N/AN/A936411,080
2022-09-23$26.23$30.0044.9%12.9%35.3%19.5%44.8%4.1%8.0%-48.2K1.7M-4.4K0.0351.45N/AN/A3716431,082
2022-09-26$25.79$30.0047.3%13.6%31.4%22.1%47.4%2.4%6.1%-43.9K1.8M-3.9K0.4559.05N/AN/A64296671,082
2022-09-27$25.45$30.0044.8%12.8%31.2%19.4%45.5%1.4%8.4%-41.5K1.9M-3.5K0.5453.37N/AN/A63346721,083
2022-09-28$25.83$30.0043.9%12.6%32.0%18.4%44.8%3.2%8.3%-45.1K1.8M-3.8K0.5172.39N/AN/A67346811,087
2022-09-29$25.42$30.0046.0%13.2%30.6%20.7%47.4%5.3%7.4%-41.4K1.9M-3.5K0.6360.92N/AN/A63406811,087
2022-09-30$25.40$30.0044.5%12.8%27.4%19.1%45.9%0.3%8.1%-41.6K1.9M-3.4K0.5361.41N/AN/A76406871,089